Stop Underpricing Your Work

The dangers of overpricing your work are obvious: You can lose the deal and scare clients away. But charging low prices can signal low quality, making clients hesitant to work with you. To be sure you aren’t underselling yourself, develop a network of trusted peers who can provide honest information about going rates. Once you have a sense of what your price should be, practice saying it out loud. Quoting a fee to a client can be nerve-racking, especially if it’s a rate increase, but rehearsing it will make you more confident. Then test the market demand for your new rate and adjust accordingly. Increase your price steadily and incrementally until you feel you’re earning what you deserve. If you start asking for a rate that clients resist, consider freezing or reducing your rate until you’ve built up other income streams or increased your reputation. Asking for what you deserve gets you not only more money but also more respect.